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Gap Insurance
Posted: Fri Aug 10, 2007 10:49 pm
by mgf
Has anyone taken Gap insurance - is it worth it?
Posted: Fri Aug 10, 2007 11:24 pm
by Baggy
yes(not on the elise)....probably not...
would I get it again?
probably
Posted: Sat Aug 11, 2007 10:56 am
by gorrie
Never taken it... the way I looked at it was that if you are getting market value (or close) in the event of a write off, then thats enough to get you back in a simlarly aged/spec car.
I wouldn't expect to sell a car after 2yrs and get the new price back for it... so I don't see the point in GAP. I can understand why some people would want it... if putting a low deposit down and taking HP...
Andy.
Posted: Sat Aug 11, 2007 11:18 am
by dezzy
I've never bothered with it. My car has recently just been written off and while I'm still haggling with the insurance company for a better settlement nearer what I think the market value is, even their opening offer is more than what I have left to pay on my finance.
Generally, with our cars, I don't think its market value will go down faster than your finance payments.
Cheers,
D
Posted: Sun Aug 12, 2007 1:33 am
by ExigeKen
Yes I took it.
Is it worth it probably only if your car is written off - its a bit like most insurance really i.e. a gamble.